Element List	Explanation
Introduction	Knowledge Economic City Company (the “Company”) announces the signing of a contract with Astra Construction Company for the execution of structural and embedded mechanical, electrical, and plumbing (MEP) works for the buildings of the Riyadh Schools Complex located within Knowledge Economic City.
Date of Announcement of the Award	2026-01-21 Corresponding to 1447-08-02
Contract Subject Matter	The execution and completion of all structural and embedded MEP work for the buildings in Riyadh Schools complex in accordance with the specifications agreed and approved between the two parties and in accordance with the regulation of the competent authorities.
The Entity with Which the Contract was Signed	ASTRA Construction Company
Date of Signing the Contract	2026-01-21 Corresponding to 1447-08-02
Contract Value	SAR 32,483,683 excluding VAT
Contract Details	Under the contract, Astra Construction will execute and complete all structural and embedded MEP works in accordance with the approved designs, technical specifications, and requirements agreed upon by both parties, and in compliance with the regulations of the relevant authorities.
Contract Duration	7 months
Financial Impact and the Relevant Period	The contractor’s dues will be paid in installments based on monthly progress statements reflecting the work executed under the contract. Accordingly, the financial impact, represented by cash outflows, will be distributed over the contract duration.
Related Parties	There are no related parties to this contract.
Additional Information	The signing of this contract forms part of the implementation steps of the agreement concluded between Knowledge Economic City Company and Riyadh Schools Holding Company, an affiliate of the Mohammed bin Salman Non-Profit Foundation (MiSK). Under the signed agreement, Knowledge Economic City Company is responsible for developing the educational complex and its associated facilities on land owned by the Company, including the execution of construction works and the provision of all infrastructure and requirements for modern educational complexes, in accordance with the approved engineering and technical specifications and the requirements of the relevant authorities. In return, Riyadh Schools Holding Company will operate and manage the educational complex and provide educational services for boys and girls in accordance with the approved curricula and academic standards applied across Riyadh Schools, leveraging its long-standing experience in developing educational models and implementing advanced teaching methodologies. The cooperation intends to establish an integrated partnership model between an urban developer and a renowned specialized educational operator, contributing to the enhancement of educational services within Knowledge Economic City, strengthening the integration of services provided to its residents, and supporting sustainable urban development in Al-Madinah Al-Munawarah.